IRON WORKERS LOCAL UNION 8 JOINT APPRNTCSHP&ADV JRNYMN TRNG TR FD

EIN: 391143963 501(c)(3)

MILWAUKEE, WI

Total Revenue
$3,962,524
Total Expenses
$1,598,398
Total Assets
$4,979,999
Net Assets
$4,975,469
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
WI
Principal Officer
CHARLIE FALKNER
Phone
4144769372
Tax Period
2023-01-01 to 2023-12-31

IRON WORKERS LOCAL UNION 8 JOINT APPRNTCSHP&ADV JRNYMN TRNG TR FD, founded in 1972, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2023. Revenue surged 174% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.4M, a strong 60% operating margin.

Mission

TRAINING AND RETRAINING OF APPRENTICES AND JOURNEYMEN IRON WORKERS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,000,000
Program Service Revenue $1,959,219
Investment Income $-8,923
Other Revenue $12,228
TOTAL REVENUE $3,962,524

Expense Breakdown

Grants Paid $0
Salaries & Benefits $704,633
Fundraising Expenses $0
Program Expenses $1,201,664
Other Expenses $453,557
TOTAL EXPENSES $1,598,398

Year-over-Year Comparison

2023 2022 Change
Revenue $3,962,524 $1,448,530 +1.7%
Expenses $1,598,398 $1,254,313 +0.3%
Net Income $2,364,126 $194,217 +11.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
N/A
Employees
40
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$945
Total Directors
10
$4,365
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHAD HOOYMAN EMPLOYER TRUSTEE 3.00
Director
$405 $0 $405
JOHN RAUCH UNION TRUSTEE 3.00
Director
$450 $0 $450
RICK VANDEN HEUVEL UNION TRUSTEE 3.00
Director
$495 $0 $495
CHARLIE FALKNER CHAIRMAN 3.00
Officer Director
$495 $0 $495
CASEY WEGNER EMPLOYER TRUSTEE 3.00
Director
$225 $0 $225
BRIAN MCCAMBRIDGE UNION TRUSTEE 3.00
Director
$450 $0 $450
TIMOTHY ROMAN UNION TRUSTEE 3.00
Director
$495 $0 $495
RICHARD ROUNDTREE EMPLOYER TRUSTEE 3.00
Director
$405 $0 $405
JEANNIE LAURET SECRETARY/TREASURER 3.00
Director
$495 $0 $495
DAVE OHME EMPLOYER TRUSTEE 3.00
Officer Director
$450 $0 $450
RICHARD HANSON APPRENTICESHIP COORDINATOR 40.00
Highest
$121,376 $74,510 $195,886
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $3,962,524 $1,598,398 $4,979,999 $2,364,126
2022 $1,448,530 $1,254,313 $2,616,825 $194,217
2021 $1,164,075 $1,296,176 $2,422,861 $-132,101
2020 $1,376,223 $1,067,419 $2,995,807 $308,804
2018 $1,259,446 $1,061,836 $2,448,378 $197,610
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